Prospera Financial Services Inc Makes New $282,000 Investment in Paycom Software, Inc. (NYSE:PAYC)

Prospera Financial Services Inc purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,691 shares of the software maker’s stock, valued at approximately $282,000.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in Paycom Software during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Paycom Software in the second quarter valued at about $26,000. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software during the third quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software during the second quarter valued at about $27,000. Finally, CVA Family Office LLC raised its holdings in Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after acquiring an additional 164 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAYC. BMO Capital Markets raised their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, TD Cowen raised their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $193.67.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total value of $315,900.00. Following the sale, the chief executive officer now owns 2,941,808 shares in the company, valued at approximately $476,572,896. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 54,600 shares of company stock worth $9,726,717 over the last ninety days. 12.60% of the stock is currently owned by corporate insiders.

Paycom Software Stock Up 2.1 %

Shares of PAYC opened at $234.78 on Tuesday. The stock’s fifty day simple moving average is $185.75 and its 200-day simple moving average is $167.39. The firm has a market capitalization of $13.54 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $236.24.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio is 18.05%.

Paycom Software Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.